Tata Capital launches LAMF scheme

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Tata Capital launches LAMF scheme

Tata Capital has developed a service called ‘Loan Against Mutual Funds’ (LAMF), which allows consumers to digitally apply for loans between 5 lakh and 2 crore.
The non-banking finance company said in a statement that the end-to-end (onboarding to disbursement) digital loan offering is provided against a wide range of equity and debt plans across mutual funds and is swift and hassle-free.

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Customers can take out the loan as an overdraft or a term loan by drawing a line on mutual fund units managed by several asset management firms, according to the company.

“Auto renewal is offered for tenures of more than one year (subject to mutual fund portfolio review)…. Tata Capital said the service platform has capabilities for distribution, drawdown, extra pledging, and de-pledging. According to the statement, LAMF is a customised
product backed by technology and analytics to satisfy the customer’s personal or corporate financial needs. The loan amount is determined by the value of the units in the mutual fund portfolio as well as the loan term.

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The NBFC emphasised that the customer continues to hold the mutual fund portfolio and can enjoy its benefits, despite the fact that the mutual fund industry’s assets under management (AUM) has more than doubled in five years (of growth and dividend received from the MF portfolio).
“Our latest digital solution allows consumers the option to effortlessly satisfy their fund demands in a seamless manner, even while maintaining control over their portfolio,” said A
bonty Banerjee, Tata Capital’s Chief Digital Officer.

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